All Forum Posts by: Mike Johnson

You guys are commenting on land trusts a lot.  I know little about them except to say that here in Pennsylvania, you cannot avoid transfer taxes with a land trust.  How do you go about creating a land trust?  I know they're not registered with the state.  So under what premise and conditions would one exist?  How easy or difficult is it to create one?

Bud, yes he'd recognize it as me because he recognizes my and my company's address (the lender also states my coorporation's address must be in the preapproval letter).  So, it's a matter of simply amending the articles to reflect an address change.  

I've read about that as well Romy.  But I think a broker acting as an indisclosed principal has less complexities.  And I would submit the offer in my corporation's name.

Thanks for the suggestions guys.  I've also been reading about forming an agency relationship with a broker, whereas the broker would act on my behalf as an undisclosed principal.  Anyone have any insight or experience with this?  At what point in the buying process would my identity have to be disclosed, if at all?

I'm looking to buy a business (Pennsylvania private S-corp) and property. There is hostility between me and the seller and if he discovered I am the buyer, he would refuse to sell to me. I need to know the ways/methods by which I can remain anonymous to the seller and complete the sale. I already have a corporate name which I intend to place the offer in but the seller recognizes the corporation's address (which would be on the preapproval letter) as well as my personal address, which would jeopardize any dealings.  Any insight on how should I pursue this?

Ok, I'm looking to buy this business I have a minority stake in (Pennsylvania private S-corp).  The business is failing and it is for sale, listed with a broker.   I'm preapproved for up to the selling price but, by any valuation metric, it is unrealistically high.

Anyway, there is hostility between me and the seller and if he discovered I am the buyer, he would refuse to sell to me simply out of spite.  I need to know the ways/methods by which I can remain anonymous to the seller and complete the sale.  I already have a corporate name which I intend to place the offer in.  But my mortgage banker tells me he must have the corporation's address on the preapproval letter and the seller recognizes that address.  So, how should I pursue this?  

As a sidenote, my mortgage broker informs me that my minority stake in the business will complicate a sale so he is instructing me sell the shares back to the majority owner for $1 (which will raise his suspicions) in order to facilitate a sale.  Personally, I don't see why I need to do this and I didn't get a clear answer from him.  Anyone have any insight?